Oil

Crude Oil at Major Decision Point

0

Jamie Saettele




by 
Jamie Saettele

Never miss a story from Jamie Saettele

Subscribe to receive daily updates on publications

Please enter valid First Name

Please fill out this field.

Please enter valid Last Name

Please fill out this field.

Please enter valid email

Please fill out this field.

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.








Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don’t just read our analysis – put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We’ll email you login details shortly.

Learn More about Your Demo

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.

Please try again later.

Daily

Crude Oil at Major Decision Point

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-I wrote last update that “back and fill turned into a crude bloodbath and 51.60s didn’t do anything! The 61.8% if the run-up is 49.62. That level probably needs to hold if crude is still a bull.” The Fib has failed to hold which is a warning that all is not well. The trendline is the bearish trigger and has yet to break (nearly tested today). Also, the 200 day average has been useful for years and price is back at the level again. Since August 2016, the dynamic has been for price to drop below the average and then turn higher. Look for crude to resolve the dilemma soon.


provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES


Crude Oil 200 Day Average Dynamic in Play Again

Previous article

EURGBP: Short-Term Resistance Threatened, Bias Remains Negative

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Oil